Strauss Group sells 50% stake in Sabra to PepsiCo for $244 million, granting option for majority stake in joint venture

Strauss Group sells 50% stake in Sabra to PepsiCo for $244 million, granting option for majority stake in joint venture

11/24/24, 11:24 AM
Money
$244 million
Industry
food processing
hospitality
food and beverage
agriculture and farming
Type
partnership
Strauss Group has sold its 50% stake in Sabra, the hummus producer, to its partner PepsiCo for approximately $244 million, signaling the end of a nearly 20-year partnership. In return, PepsiCo granted Strauss an option to acquire a majority stake in their joint venture, Strauss Frito Lay.

Company Info

Company
Strauss Group
Additional Info
Strauss Group is an Israeli food company with a focus on hummus and snack food production. It has been in a 20-year partnership with PepsiCo.